Blue Bird Co. (NASDAQ:BLBD) Receives $60.64 Average PT from Brokerages

Blue Bird Co. (NASDAQ:BLBD) has been given an average recommendation of “Moderate Buy” by the eight brokerages that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $60.64.

BLBD has been the subject of a number of recent research reports. Roth Mkm lowered Blue Bird from a “buy” rating to a “neutral” rating and set a $48.00 price objective for the company. in a research note on Thursday, October 3rd. Bank of America reduced their price objective on Blue Bird from $66.00 to $63.50 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Barclays lifted their price objective on Blue Bird from $43.00 to $54.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. DA Davidson lifted their price objective on Blue Bird from $66.00 to $67.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Roth Capital lowered Blue Bird from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 3rd.

Blue Bird Stock Performance

NASDAQ BLBD opened at $40.78 on Friday. The stock has a 50-day simple moving average of $42.35 and a two-hundred day simple moving average of $48.23. The firm has a market capitalization of $1.32 billion, a P/E ratio of 12.82, a PEG ratio of 1.05 and a beta of 1.59. Blue Bird has a fifty-two week low of $20.50 and a fifty-two week high of $59.40. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.83 and a current ratio of 1.37.

Insider Transactions at Blue Bird

In other news, President Britton Smith sold 2,508 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $49.81, for a total transaction of $124,923.48. Following the transaction, the president now directly owns 80,617 shares in the company, valued at $4,015,532.77. The trade was a 3.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BLBD. National Bank of Canada FI acquired a new position in shares of Blue Bird during the 3rd quarter worth approximately $26,000. Macroview Investment Management LLC purchased a new stake in shares of Blue Bird during the 2nd quarter valued at approximately $29,000. Truvestments Capital LLC acquired a new position in Blue Bird during the third quarter worth $35,000. Private Trust Co. NA purchased a new position in shares of Blue Bird during the third quarter worth $38,000. Finally, nVerses Capital LLC acquired a new stake in shares of Blue Bird in the third quarter valued at $53,000. 93.59% of the stock is currently owned by institutional investors and hedge funds.

About Blue Bird

Blue Bird Corporation, together with its subsidiaries, designs, engineers, manufactures, and sells school buses in the United States, Canada, and internationally. The company operates through two segments, Bus and Parts. It offers Type C, Type D, and specialty buses; and alternative power options through its propane powered, gasoline powered, compressed natural gas powered, and electric powered school buses, as well as diesel engines.